We’re still not over the 2008 financial crises

A big proportion of wealth is a fiction. Before your natural instincts kick in, take a look at how much of finance works. Let’s use the example of Bitcoin, which until January 2009 did not exist. As of today, the total market capitalisation is over half a trillion US$[1]Bitcoin. And yet it’s nothing. It all… Continue reading We’re still not over the 2008 financial crises

Buying votes

In August 2005, Raghuram Rajan, at the time a virtually unknown economist at the University of Chicago’s Booth School of Business, predicted the financial crisis[1]Larry Summers vs. the long-termers. He was at a conference of high-powered economists who had convened in part to honor Federal Reserve Chairman Alan Greenspan. Larry Summers[2]Served as 71st United States… Continue reading Buying votes